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TheraGauze Maker Seals $1.3M from 3 Investors - CBL
By Citybizlist Staff
NEWPORT NEWS, Va.-According to a Reg D filing with the U.S. Securities Commission, Soluble Systems LLC obtained $1.3M in debt securities from 3 investors.
Newport News-based Soluble Systems manufactures and markets a line of advanced sterile wound care dressings under the brand name TheraGauzeTM.
Named in the filing were company executive officers Thomas McCarter, chief executive officer; Allan Staley, president; Guy Levy, chief technology officer; Randy Rutherford, vice president of national accounts; and Ronald H. Jones, chief financial officer.
Last month Soluble Solutions announced that Congress has approved $800,000 for a clinical study of TheraGauzeTM to help treat infected battlefield wounds.
Reg D filing: http://tinyurl.com/ya7te4s
Bios of principals from the company's Web site
Thomas ("Kerry") McCarter, Chief Executive Officer
CEO Thomas ("Kerry") McCarter joined Soluble Systems in August, 2005 as Chief Executive Officer. Mr. McCarter has a proven ability to lead growth in start-up companies and in difficult "turnaround" situations. As Managing Director/President/Regional VP of Johnson & Johnson Companies in Russia and Western Europe, Mr. McCarter restructured and introduced a number of businesses to improve both market share and profitability. As VP Marketing for Johnson & Johnson Hospital Services, he introduced industry leading marketing programs and expanded J&J participation in alternative healthcare markets. Currently, he is a member of the Board of Directors of MedSci Technologies; a urology focused medical device company. Prior to his 20 years with J&J, Mr. McCarter held management positions with Procter & Gamble and General Electric in marketing, manufacturing, and human resources and wrote for FORBES Magazine. He holds a BA in Economics from the Maxwell School of Syracuse University and a Masters in Business Administration (with Distinction) from Harvard Business School.
Allan Staley, President
President Allan R. Staley co-founded Soluble Systems with his business partner, Dr. Guy G. Levy, in 1999 and became its President in January 2007. Over the last 10 years, Mr. Staley has used his creative skills to help Dr. Levy develop and refine the company's patented polymer technology into a line of commercially viable wound care products under the brand name of TheraGauzeTM. Mr. Staley is formerly a member of Patten, Wornom, Hatten & Diamonstein, L.C. and served on its Executive Committee after merging with the firm in 1999. Prior to 1999, Mr. Staley was the Managing Partner of Diamonstein & Staley. In his 20 years practicing business law, Mr. Staley closed nearly $1 Billion in acquisitions and financings. He is an 1982 honors graduate of Randolph-Macon College, with a BS in Economics and Business. Mr. Staley received his JD from the Marshall-Wythe School of Law at the College of William & Mary in 1986, with a summer term in Exeter, England.
Ronald H. Jones, Chief Financial Officer
CFO Ronald H. Jones joined Soluble Systems in February, 2007 as Chief Financial Officer and is responsible for the Company's accounting and financial functions. He has over 30 years of high-level financial experience. Prior to joining Soluble Systems, Mr. Jones was a co-founder of a financial advisory business in California that issued tax-exempt bonds for corporations, non-profit entities and low-income housing organizations. Previously, he was Vice President and Treasurer for 14 years with Waste Management, Inc., a $12 billion environmental services firm in Houston, TX. Mr. Jones's responsibilities included banking and capital markets, cash management, financial assurance, risk management and bond rating agency relationships. During this period, Mr. Jones successfully completed public and private bond issues and syndicated bank loan transactions totaling approximately $27 billion. Mr. Jones previously worked for nearly 14 years in various corporate banking positions with Chase Manhattan Bank, Bank of New York and Irving Trust Company in New York, NY and Cincinnati, OH. Mr. Jones holds a BS in Finance from the University of Colorado and an MBA in Finance from Xavier University.
Randy Rutherford, Vice President of National Accounts
VP of Sales and Marketing Randy Rutherford joined Soluble Systems in January 2006 as Director of Sales and Marketing. Mr. Rutherford has worked in the wound care marketplace for over 20 years in sales and sales management. Most recently he served as VP of Business Development for Corium International, Inc. a developer and manufacturer of film products for use in Wound Care and Diagnostic applications. Mr. Rutherford began his career with Johnson and Johnson Patient Care Division in 1984 and has worked with other wound care companies such as LMI Medical, Ludlow Technical Products and Graphic Controls. He has been responsible for consistently delivering double digit sales growth as Director of several national sales forces. His particular expertise is in business-to-business contacts, matching companies and products with sales partners and developing strategies for new product introductions.
Guy Levy, Chief Technology Officer
Chief Technology Officer Guy Levy co-founded Soluble Systems, LLC in 1999 with his business and creative partner Allan Staley. In 1997, Dr. Levy began a quest to improve the quality of life and oral health of his patients who suffered with dry mouth. This desire led to a patented break-through in polymer technology that today represents one of the most exciting advances in wound care - extended moisture delivery without maceration. Dr. Levy earned a BS in Biology from Virginia Tech (Class of 1984, but completed studies in three years in 1983), a DDS with Honors from Georgetown University School of Dentistry in 1987 and an MS in Health Administration from the Medical College of Virginia at Virginia Commonwealth University in 1992. Dr. Levy has practiced general dentistry since 1987 in Newport News, Virginia, with an emphasis on laser and microscopic therapies.
About Soluble Systems, LLC from the company Web site
Soluble Systems, LLC is the manufacturer and distributor of advanced wound care products under the brand names TheraGauzeTM and TheraSkinTM. TheraGauze is manufactured in a certified clean room environment pursuant to FDA regulations in Hampton, Virginia. Corporate offices are located in Newport News, Virginia.
Soluble Systems, LLC, manufactures and markets a line of advanced sterile wound care dressings under the brand name TheraGauzeTM. TheraGauze is manufactured in a certified clean room environment under strict quality protocols in Hampton, Virginia. Administrative offices are located in nearby Newport News, Virginia.
